"Golden opportunity" to foster international integration

Our reporter had an exclusive interview with Mr. Tran Tien Dung, Vice Chairman of the Hai Phong Business Association, on cooperation potential among APEC members during the third APEC Business Advisory Council Meeting (ABAC III).

- Sir, given Hai Phong's position as one of the country's largest seaports and a strategic trade gateway to Northern Vietnam, how do you estimate its role in connecting the supply chain and attracting investment flows from APEC economies?

Hai Phong City has reaffirmed its important role in Northern Vietnam's supply chain. With the attention of both the Government and city officials, Hai Phong has invested in port and logistics facilities in recent years. This helps businesses in the region optimise their supply chains. Nam Do Son port is expected to accommodate the world's largest ships, with a capacity of up to 24,000 TEUs.

Hai Phong City is located in Northern Vietnam's seaport, making it an ideal transit point for commodities from significant industrial zones (IZs) such as Hanoi, Bac Ninh, Hung Yen, Ninh Binh, Thanh Hoa, Nghe An, and Ha Tinh. A seamless logistics network is formed by the synchronised linkage of the seaport to the highway system (such as the Hanoi-Hai Phong expressway), railways, and inland waterways.

Hai Phong is also a desirable location for FDI flows, particularly from APEC members, because of its favourable investment and business environment, integrated industrial infrastructure, and high-quality people resources. Hai Phong has played a critical role in integrating supply networks and attracting FDI from APEC members.

- What, in your opinion, are the best chances for local businesses to gain access to financing, technology, and new markets in the APEC region?

We see that the APEC region provides many practical chances for Hai Phong's business community. Hai Phong City, an important industrial and port city, has a key position in the regional supply chain, allowing local enterprises to readily interact with APEC partners via trade and logistics.

In terms of technology, Hai Phong City has a high potential to embrace green production models, digital transformation, and automation from APEC economies, all of which are significant factors in increasing competitiveness in the face of international integration. Hai Phong firms now have better opportunities to expand their export markets and participate more fully in the global value chain thanks to the rapid development of port and industrial park infrastructure. It is critical for firms to proactively improve their internal capacities, strengthen connections, and successfully make use of APEC cooperation prospects.

In Hai Phong, the private sector contributes almost 60% of the city's economic value. However, a large number of these private businesses are classed as small and medium-sized enterprises (SMEs). Hai Phong City's adoption of innovative policies, infrastructure preparation, and the establishment of flexible and pioneering mechanisms to attract foreign investors, including those from the APEC region, have created a significant opportunity for members of the Hai Phong Business Association, including SMEs. This is an ideal environment for SMEs to gain foreign expertise, participate in the global supply chain, enhance localisation rates, and create "Make in Vietnam" products that satisfy international standards.

- As an organisation that represents and supports the local business community, what efforts is the Hai Phong Business Association implementing to improve business integration capacity, sir?

We have also identified our advantages and challenges, and we are determined to support Hai Phong City's development. We have conducted training courses to boost knowledge and skills, helping our member firms improve digital transformation and green development by extending their factories and workshops to fulfil the needs of clients all over the world. Our association has also built a legal centre to provide policy feedback, as well as supporting afforestation and reforestation to generate carbon credits. In the future, we will continue to help member businesses engage with partners throughout the APEC region through fairs, bilateral promotions, and other means.

- Can you share the Hai Phong business community's expectations or message for overseas investors attending the ABAC III Meeting?

The ABAC III Meeting provides a vital opportunity for Vietnamese businesses in general and Hai Phong firms in particular to extend their markets, encourage cooperation, and strengthen their international integration, thereby contributing to the country's economic development.

The hosting of the ABAC III Meeting in Hai Phong demonstrates the APEC community's interest in Vietnam in general and Hai Phong City in particular. It is a wonderful honour for the city's business community to host top business leaders from the region and around the world.

Respectfully, thank you!